[TEMP-CHECK] Proposing Aave Governance Calls

Governance General
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Title: [TEMP-CHECK] Proposing Aave Governance Calls

Author: @boardroom

Date: 2023-12-06

Summary

Back in June, we posted a potential initiative to initiate a bi-weekly governance call. To restart the initiative, the Boardroom team has been working towards initiating a new series of Aave Community Governance calls. There have been numerous exciting and important updates in the Aave Governance forum that we’re eager to share and discuss.

Motivation

The objective of these calls is to create a welcoming and accessible forum where both stakeholders and newcomers can engage in meaningful discussions about governance. These discussions will encompass a variety of topics, including existing and upcoming proposals, delegate initiatives, and meta-governance, which involves evaluating the efficacy of Aave’s governance processes. Furthermore, we’ll explore the broader, long-term development of Aave’s governance framework.

Specification

The calls will primarily focus on two aspects:

  1. Provide a stage for proposers to showcase their ideas to the community. Individuals or organizations that have submitted draft proposals on the forum or Snapshot will have a chance to present their concepts before proceeding to a vote.
  2. Offer a venue for community members to stay informed about the latest developments in the Governance forum. Given the volume and variety of proposals, these calls will be an invaluable resource for keeping up with all significant updates.

Tentative Agenda for the Initial Call We have listed authors of the mentioned topics to know their interest in presenting to the community:

We’d expect a 2-3 min discussion on each.

We suggest scheduling the community call for next week, with potential dates being the 11th or 12th of December 2023. This will also give us a break during the holidays to consolidate feedback and better the agenda and structure. We welcome feedback from community members about the concept of the call. Your input on the most suitable time for the call is also crucial, considering the global spread of our community and the resulting time zone differences.

Disclaimer

Boardroom is not presenting this proposal on behalf of any third party. The facilitation of governance calls falls under the responsibilities outlined by Boardroom in a grant received from the Aave Grants Program for which we will be fulfilling operational responsibilities starting in December.

Next Steps

We are looking for comments and feedback from the community members to identify the possibility of such a call next week. With support from the community members, we would love to get started on the Governance calls. Additionally, with holidays, if you believe that the call should be scheduled on Jan 2024, please feel free to suggest it as well.

To accommodate everyone’s schedule, we have created a survey for community members to select their preferred time. Please register your availability here:

Community Call Time Selection Survey

Copyright

Copyright and related rights waived via CC0.

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Aave Governance Call #1
Boardroom.io is excited to be hosting January’s Aave Governance call on January 15th, 12pm EST. We will be diving into recent proposals from the forums and we’re happy to include multiple speakers from across the industry, including Gauntlet, Composable Finance, and Chaos Labs.

Save the event here.

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Aave Governance Call #1 Google Drive video link

tl;dv:

  • 06:13 Governance Upgrade and Speaker Introductions — Discussion on Aave governance upgrade to V3 and introduction of speakers
  • 09:29 Gauntlet’s Initiatives in Aave Community — Paul from Gauntlet presents initiatives related to flash loans and GHO peg stability (14:44)
  • 20:11 EzR3aL (delegate) discusses reevaluating the flash loans topic and the market evolution.
  • 24:45 StableLab (delegate) emphasizes the need for a more aggressive integration strategy for GHO.
  • 25:45 Composable Finance on extending GHO to Cosmos/Polkadot through IBC. Edgar and Alex agree on the need for more community engagement and understanding of Composable’s proposal.
  • 33:50 Ori presents the proposal for stablecoin IR curves updates and the recent increase in borrow rates.
  • 39:56 Ori and Alex discuss the general acceptance of proposals by risk analysis providers from the community, with questions of misalignment.
  • 44:11 Alex raises a question regarding flash loan liquidations, specifically about the need for a whitelisting process.
  • 46:16 Meeting Conclusion

Be sure to look out for the next monthly Aave Governance Call in February!

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Aave Governance Call #2

Boardroom.io will be hosting February’s Aave Governance call on February 22nd at 5pm UTC. Speakers will include Chaos Labs, Areta.io, StableLab, and delegates including Keyrock.

Save the event here.

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Aave Governance Call #2 Google Drive video link

— Discussion starts at 9:00 —

tl;dv:

Introductions

  • Introductions for Sid and Fin of Areta.
  • Next steps for Areta involvement in Aave governance.

Oval (OEV) Proposal Overview

  • Overview of a proposal by UMA to integrate their solution into Balancer and Synthetix markets.
  • Discussion around the Oval proposal to capture MEV revenue from liquidations.
  • Sid discusses how Oval would allow for an auction after liquidation to capture MEV revenue for the protocol. He voted to abstain and wants a framework to select the best solution. He agrees to work with Uma to create a framework to push this issue forward and implement an innovative solution that saves money for the DAO.
  • Perspectives from delegates on the Oval proposal and next steps to further discuss capturing MEV revenue.
  • Alex summarizes perspectives from different delegates - some were supportive with caveats, wanting more analysis and testing.
  • Thanos agrees more discussion is needed on potential impacts and collaboration with other parties like Chainlink.

Orbit program renewal

  • Sid discusses the Orbit program, which seeks to reward Aave delegates. Sid previously led LBS Blockchain Society and advocated for his new delegate platform under the Areta umbrella.

Merit incentive program discussion

  • Discussion around the controversial Merit incentive program proposal to periodically airdrop rewards for Aave-aligned behaviors.
  • Kene thinks the initiative is good, but has concerns around the punitive 100% dilution for using other protocols.
  • Sid disagrees that the dilution is punitive and thinks rewards should align with bringing more revenue to Ave.

Q&A

  • Brief catch up on other topics before wrapping up.
  • Gauntlet Risk Provider Exit: Discussion around Gauntlet’s recent exit as a risk provider for Aave.
  • Discussion on the importance of having multiple risk providers to provide different perspectives. It is overall a recoverable situation.

Be sure to look out for the next monthly Aave Governance Call in March!

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